JPMorgan Chase & Co. began coverage on shares of Olin (NYSE:OLN) in a report published on Friday morning, Marketbeat reports. The firm issued an overweight rating and a $36.00 target price on the specialty chemicals company’s stock.
Several other equities analysts also recently weighed in on OLN. Nomura reduced their price target on Olin from $43.00 to $40.00 and set a buy rating for the company in a report on Thursday, February 8th. Royal Bank of Canada restated a buy rating and set a $42.00 price target on shares of Olin in a report on Thursday, December 14th. Zacks Investment Research upgraded Olin from a hold rating to a buy rating and set a $42.00 price target for the company in a report on Friday, January 12th. Citigroup set a $40.00 price target on Olin and gave the company a buy rating in a report on Monday, February 12th. Finally, Cowen restated a buy rating and set a $41.00 price target on shares of Olin in a report on Friday, February 9th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $39.45.
Olin (NYSE:OLN) opened at $33.14 on Friday. Olin has a twelve month low of $27.79 and a twelve month high of $38.84. The company has a current ratio of 1.78, a quick ratio of 1.07 and a debt-to-equity ratio of 1.31. The firm has a market capitalization of $5,540.00, a price-to-earnings ratio of 50.21, a PEG ratio of 1.13 and a beta of 1.43.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 9th. Investors of record on Friday, February 9th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $0.80 annualized dividend and a dividend yield of 2.41%. Olin’s dividend payout ratio (DPR) is presently 121.21%.
In other Olin news, Director Randall W. Larrimore acquired 800 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were bought at an average cost of $31.28 per share, with a total value of $25,024.00. Following the completion of the transaction, the director now directly owns 6,500 shares of the company’s stock, valued at approximately $203,320. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John L. Mcintosh sold 8,750 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $32.79, for a total value of $286,912.50. Following the sale, the executive vice president now directly owns 63,891 shares in the company, valued at $2,094,985.89. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Bessemer Group Inc. boosted its position in shares of Olin by 971.4% during the fourth quarter. Bessemer Group Inc. now owns 4,725 shares of the specialty chemicals company’s stock valued at $168,000 after buying an additional 4,284 shares during the last quarter. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of Olin during the fourth quarter valued at $178,000. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Olin during the fourth quarter valued at $201,000. Naples Global Advisors LLC purchased a new stake in shares of Olin during the fourth quarter valued at $206,000. Finally, Fox Run Management L.L.C. purchased a new stake in shares of Olin during the fourth quarter valued at $210,000. 89.09% of the stock is currently owned by institutional investors.
Olin Company Profile
Olin Corporation is a manufacturer and distributor of chemical products, and ammunition. The Company operates through three segments: Chlor Alkali Products and Vinyls, Epoxy and Winchester. The Chlor Alkali Products and Vinyls segment manufactures and sells chlorine and caustic soda, ethylene dichloride and vinyl chloride monomer, methyl chloride, methylene chloride, chloroform, carbon tetrachloride, perchloroethylene, trichloroethylene and vinylidene chloride, hydrochloric acid, hydrogen, bleach products and potassium hydroxide.
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